38-U.S.C.-1926

§1926 – Authority For Higher Interest Rates For Amounts Payable to Beneficiaries

Pathway

Title 38 > Part II > Chapter 19 > Subchapter I > Section 1926

Details

• Reference: Section 1926
• Legend: §1926 – Authority For Higher Interest Rates For Amounts Payable to Beneficiaries
• USCode Year: 2013

Provision Content

Notwithstanding sections 1902, 1923, and 1925 of this title, if the beneficiary of an insurance policy receives the proceeds of such policy under a settlement option under which such proceeds are paid in equal monthly installments over a limited period of months, the interest that may be added to each such installment may be at a rate that is higher than the interest rate prescribed in the appropriate section of this subchapter. The Secretary may from time to time establish a higher interest rate under the preceding sentence only in accordance with a determination that such higher rate is administratively and actuarially sound for the program of insurance concerned. Any such higher interest rate shall be paid on the unpaid balance of such monthly installments.

(Added Pub. L. 96–128, title III, §302(a), Nov. 28, 1979, 93 Stat. 986, §726; renumbered §1926 and amended Pub. L. 102–83, §§4(b)(1), (2)(E), 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 404–406.)

Amendments

1991—Pub. L. 102–83, §5(a), renumbered section 726 of this title as this section.

Pub. L. 102–83, §5(c)(1), substituted 1902, 1923, and 1925 for 702, 723, and 725.

Pub. L. 102–83, §4(b)(1), (2)(E), substituted Secretary for Administrator.

Effective Date

Section effective Nov. 28, 1979, see section 601(b) of Pub. L. 96–128, set out as an Effective Date of 1979 Amendment note under section 1114 of this title.

U.S. Encyclopedia of Law Coverage

38-U.S.C.-1919 in the Legal Encyclopedia: Veterans

In this entry about 38-U.S.C.-1919, find legal reference material, bibliographies and premiere content related to veterans in the American Encyclopedia of Law, presenting a comprehensive view of the United States veterans-specific issues, written by authorities in the field.

38-U.S.C.-1903 in the Legal Encyclopedia: Life Insurance

In this entry about 38-U.S.C.-1903, find legal reference material, bibliographies and premiere content related to life insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States life insurance-specific issues, written by authorities in the field.

38-U.S.C.-1916 in the Legal Encyclopedia: Insurance

In this entry about 38-U.S.C.-1916, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.

38-U.S.C.-1903 in the Legal Encyclopedia: Benefits

In this entry about 38-U.S.C.-1903, find legal reference material, bibliographies and premiere content related to benefits in the American Encyclopedia of Law, presenting a comprehensive view of the United States benefits-specific issues, written by authorities in the field.

Topic Map

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